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What is the FDIC, and are my accounts at BankEast covered by FDIC insurance?

April 26, 2017accounts bankeast Covered FDIC Insurance

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What is the FDIC, and are my accounts at BankEast covered by FDIC insurance?

1 Answer

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The Federal Deposit Insurance Corporation (FDIC) is a federal agency organized in 1933 that insures depositor’s accounts up to the insured limit at most commercial banks and savings associations. BankEast is a member of the FDIC. Therefore, your accounts are covered.